"Wall Street Exodus: Major Firms Pulling Away from Climate Initiatives"

Wall Street giants like JPMorgan, State Street, and Pimco have recently withdrawn from Climate Action 100+, a group of institutional investors pushing companies to address climate issues. This shift comes amid increasing criticism of "woke capitalism" and scrutiny of ESG investing, with concerns including regulatory scrutiny, antitrust regulations, and potential client disapproval. The departures mark a significant change for finance firms that have previously championed the fight against climate change, and other finance giants like BlackRock and Bank of America have also scaled back their environmentally friendly initiatives.